Mangrove and Nabi shareholders have certainly made a fool out of Biota management and Aussie shareholders. They are now laughting all the way to the bank.
They get $1.108 USD cash back and retain the full value of their share in Nabi to be convert to Biota Inc at 6 to 1 ratio.. I guess $1.10 is Nabi shareholders bonus for merging with Biota.. Just simply imagine play.
Someone here may shoot me, but I have seem a $400mil + evaluation figures for Biota as discussed amongs US biotech investors forums. For the US biotech market, BTA seems to worth $3/share before merging with Nabi. Nabi share holders take $1.10 from that now:)
Mangrove and Nabi shareholders have certainly made a fool out of...
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